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The new company Kraft Heinz has focused far too one-sidedly on cost savings from 2015 onwards, forgetting to develop new products and markets. The result of this short-term strategy: is record losses and a minimized share price. Also read: Map your business model with the Startup Canvas [handy download] Innovation skepticism In addition to wrong strategic choices, there are also other reasons for the failure of innovation incorporates. Perhaps the biggest issue where innovation in large companies can come to a standstill is that the innovation team does not receive enough attention, resources, budget, and appreciation from the core business organization.

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The skepticism of the existing organization is not so strange. After all, the existing business is now generating money. While it remains to seen which of the innovation projects will ultimately profitable. In The 10x Growth Machine, De Sterke outlines a model with which companies can find the right balance between their core business and innovative projects. Model 10X Growth Machine Framework. What is immediately striking about De Stoke’s model is that. The innovation ‘growth machine’ is embedd in the existing organization. But can also function autonomously to a certain.

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The growth machine is responsible within the organization for initiating, validating, and scaling up innovative initiatives. Successful projects can then be incorporat into the existing business or continue in an independent form ( spin-out. How will corporates innovate like a start-up? In addition to the model above. I will briefly give you 5 important innovation lessons from the book. The 10x Growth Machine. Build an innovation portfolio. As indicated above, every large company will have. To divide its innovation investments into three segments. Optimizing the core business, renewing the core business and future disruptive growth.

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